Inventories

3 Months Ended

Mar. 30, 2019

Inventories consist of raw materials, work in process and finished goods. Raw materials, which principally consist of hops, apple juice, other brewing materials and packaging, are stated at the lower of cost, determined on the first-in, first-out basis, or net realizable value. The Company’s goal is to maintain on hand a supply of at least one year for essential hop varieties, in order to limit the risk of an unexpected reduction in supply. Inventories are generally classified as current assets. The Company classifies hops inventory in excess of two years of forecasted usage in other long-term assets. The cost elements of work in process and finished goods inventory consist of raw materials, direct labor and manufacturing overhead. Inventories consist of the following:

	March 30, 2019		December 29, 2018
	(in thousands)
Current inventory:
Raw materials	$	51,207	$	44,655
Work in process		9,198		8,252
Finished goods		25,456		17,342
Total current inventory		85,861		70,249
Long term inventory		11,360		11,619
Total inventory	$	97,221	$	81,868